ARM Holdings (NASDAQ:ARMH): In light of Tuesday’s analyst day, Canaccord raised its estimates for the company after its management pointed out strong long-term royalty and market growth opportunities into high and low tier smartphones. Canaccord also believes it is well positioned to benefit from increasing emerging market feature phones, tablets, and high-tier smartphone refreshes. It rates the shares at Buy with a $56 price target, up from $52.
Yeah, one of the fanbois on the London message board site filled his entire post yesterday by repeating "56" endlessly. He was pretty excited. I don't think he was quite as excited about the 8 percent drop in the stock at the same time. LOL
And what's up with Canaccord??? Talk about a totally embarrassing target increase.
At least several of the posters to the site have the brains to recognize the threat that Intel presents. The word is spreading...
Investment analysts at Canaccord Genuity raised their target price on shares of ARM Holdings (LON: ARM) from GBX 52 ($0.80) to GBX 56 ($0.86) in a note issued to investors on Wednesday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock.
ARM Holdings (LON: ARM) traded down 1.41% on Wednesday, hitting GBX 1050.00. ARM Holdings has a 1-year low of GBX 463.60 and a 1-year high of GBX 1108.00. The stock’s 50-day moving average is currently GBX 576.4. The company’s market cap is £14.665 billion.
A number of other firms have also recently commented on ARM. Analysts at Prime Markets reiterated a “sell” rating on shares of ARM Holdings in a research note to investors on Wednesday. They now have a GBX 975 ($14.99) price target on the stock. Separately, analysts at UBS AG reiterated a “neutral” rating on shares of ARM Holdings in a research note to investors on Wednesday. They now have a GBX 950 ($14.60) price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of ARM Holdings in a research note to investors on Wednesday. They now have a GBX 1,300 ($19.98) price target on the stock.
Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of GBX 890.23 ($13.68).